FOR IMMEDIATE RELEASE
ATLANTA-AREA SOUTHLAKE MALL SELLS FOR UNDISCLOSED PRICE
Regional Mall Sells to New York-Based Investment Firm
ATLANTA (February 6, 2019) – Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3) – representing seller Vintage Capital Group (VCG), a Los Angeles-based real estate investment firm, has helped close the sale of Southlake Mall in Morrow, Georgia, to New York-based CityView Commercial LLC (CVC). The two-story, 100-acre shopping destination is located at 1000 Southlake Circle, just 14 miles south of downtown Atlanta, and boasts more than one million square feet of gross leasable space.
CGS3, a Southern California-based commercial real estate law firm, advised the seller on all aspects of the transaction, including the negotiation of the purchase and sale agreement and the closing.
According to David Alvarado and Eoin Gubbins, the CGS3 partners who handled the deal, Vintage Capital specializes in enhancing and adding value to retail properties nationwide. Since acquiring Southlake in 2014, Vintage has successfully repositioned the mall, which led to the opening of a new H & M and F21 RED.
“Vintage has made significant physical renovations and operational improvements to the property, including the addition of H&M and Forever 21, to help transform it into the bustling retail destination it is today,” Gubbins said. “We are proud to have played a critical role in this transaction. Vintage is a fantastic owner/operator of regional malls, and its success at Southlake proves this.”
Anchored by Macy’s, Southlake Mall is located in the growing Atlanta suburb of Morrow at the intersection of I-75 and Jonesboro Rd. The shopping center is home to more than 90 tenants, including Carousel Kids, Champs Sports, Foot Locker, The Children’s Place, Bath & Body Works, Victoria’s Secret, Things Remembered, Zale’s Jewelry and Jimmy Jazz, an apparel retailer.
Jones Lang LaSalle Capital Markets represented Vintage Capital Group on the transaction.
About Crosbie Gliner Schiffman Southard & Swanson LLP (CGS3)
Since its inception in 2013, CGS3 has quickly established a reputation as one of the leading real estate law firms in California, attracting some of the state’s finest real estate attorneys from both large corporate firms and senior in-house positions. With practice areas including finance, acquisition/disposition, entity formation, tax, development, land use, leasing, distressed assets and litigation/disputes, CGS3 is located at 12750 High Bluff Drive, Suite 250, San Diego, California 92130 and 10940 Wilshire Blvd., Suite 2200, Los Angeles, California 90024. For more information, visit http://cgs3prod.wpengine.com.
Media Contact: Sydnie Moore: (619) 823-8448 / [email protected]